BASED Markets are Intent-based derivatives.
NO Liquidity Pools.
NO OrderBooks.
NO Oracle Based Trading.
NO Infinite Slippage.
NO pre locked Liquidity.
These Markets are 100% economically sound, Based & Intent-pilled.
LONG
1 BTC
SHORT
1 BTC
Alice (PartyA) posts an Intent to
the contract (1 BTC Long),
Bob (PartyB) claims the Intent,
therefore opens a countertrade (1 BTC Short).
Both sides lock collateral and,
are immutably bound into the trade.
3 Party Liquidators are now observing their position to ensure they are solvent at all times.
Creating permissionless onchain derivatives in the process.
